Kingfisher to return £130m business rates relief

DIY chain Kingfisher has joined the ranks of companies repaying their business rates relief.

Kingfisher, which owns B&Q, is waiving £130m of property tax relief. This takes the amount handed back in the last few days to over £2bn, since Tesco created a domino effect by deciding to return £585m of relief.

Kingfisher enjoyed a sales boom this summer after the first wave of Covid-19, as people looked to improve their homes to make remote working and studying easier.

Last month, it reported that business was still strong, with sales up 17% in August-October.